Monthly Production, OBA Throughput and Operational Update

Source Press Release
Company Amerisur Resources Plc 
Tags Production/Development, Strategy - Upstream, Upstream Activities
Date June 08, 2018

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide unaudited production from the Company's two producing fields, the Platanillo Field and the Mariposa-1 Long Term Test (LTT), and provide OBA throughput data for the month of May 2018 (the "Period").  


·     Total production was 149,030 barrels of oil ("BO") during the Period.

·     Average daily production was 4,807 barrels of oil per day ("bopd") during the Period.

·     Peak daily production was 5,344 bopd during the Period.

OBA Export

·     Total export volume was 128,169 BO during the Period.

·     Average daily throughput was 4,134 BO during the Period.

·     Peak daily throughput was 5,024 BO during the Period.

Platanillo field production was affected by the ongoing treatment and maintenance programme together with a reduction in production from certain key wells due to various causes. The well Platanillo-6, which had been returned to levels of approximately 260 bopd post its workover experienced an increase in water cut which is under investigation. The treatment of Platanillo-11 appears to have been effective, returning production to previous levels in a stable manner. The Platanillo-20 treatment was also successful, returning production to approximately 945 bopd.  A reduction of total fluid volume and small increase in water cut has also been observed in Platanillo-21 and 24, which are under review for intervention. Platanillo-22 has maintained a low water cut (0.2%) but total fluid delivery has been observed to fall over the last 4 weeks. This well is also under review for intervention.

Operational Update

Civil works for the Pintadillo-1 road and location in the Putumayo basin continue to advance despite difficult climatic conditions and extensive flooding in the area. The flooding in particular has necessitated the installation of additional drainage works on the road and a change in the elevation of the drilling location. It is expected to install the 13.3/8" conductor pipe in each of the three well cellars currently under construction at the end of the week commencing 11 June 2018, followed by rig mobilisation. Spudding of Pintadillo-1 is expected in July 2018.

In the CPO-5 block in the Llanos basin, severe weather conditions continue, however progress continues to be made and the well Indico-1 is also expected to spud in Q3 2018 as previously guided.

In the PUT-8 block, the operator Vetra informs that the well Miraparriba-1 is expected to spud in Q3 2018 as previously guided.

In Ecuador, the Chiritza re-pumping station project is on track to complete commissioning in Q3 2018, with operations on target to commence in September subject to acceptance by RODA, one month ahead of schedule currently. Once commissioned and in operation the Company will have an increased minimum transport capacity with Petro Amazonas EP and RODA of 9,000 bopd.

A short presentation showing civil work and Chiritza project progress will be available later today on the Amerisur website 

These data will vary month on month as development, appraisal and exploration operations continue, and also due to the factors involved in operating in the Putumayo region of Colombia.  These factors include inclement weather, social issues with drilling and oil transportation and planned and unplanned shut downs for technical works undertaken among others.  The data has not yet been approved by the Colombian Agencia Nacional de Hidrocarburos (ANH) or national customs and tax authorities DIAN and may be subject to revision.

John Wardle, CEO commented:"

The continuing cycle of well work is frustrating, however I believe that our understanding developed over the 11 years of production experience in Platanillo will give us success in this process, which is to be expected given the growing age of the well stock and the volumes produced to 31 May - over 10,041,419 barrels of oil. The weather conditions in the Putumayo were of course expected, and taken into account in our planning. The small revisions to the road and location design will enhance its efficiency in use. I am very pleased that we are making such good progress on all work fronts, and look forward to updating shareholders as our exciting programme develops."

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